Fundamentals and Evidences of Option of Loss in Islamic Jurisprudence

One of the options (Khiyarat) considered in jurisprudential discussions is the option of loss (Khiyar-e Ghabn). It means that whenever there happens an ownership more than or less than its value and the other party is not aware of it, “Ghabn” has happened and if the loss is gross, the loser party can cancel the deal. Shiite Jurists presented three different basics and several evidences to prove option of loss. Fundamentals consisting of: Satisfaction Default, Violation of Implicit Conditions and the Denial of Damage. From amongst the Four Sunni Schools, only Hanbalis and Malikis believe in option of loss and have paid less attention to its fundamentals and analysis. Hanafis consider option of loss as a kind of deception and deceit. However, these fundamentals have been analyzed and criticized and “The Denial of Damage” view which is proportionate to the requirements of jurisprudence seems more reasonable.